Share market in modest rebound; turnover Rs. 3.1 billion with five crossings

By Hiran H. Senewiratne

CSE trading indicated mixed reactions yesterday as notable profit- takings manifested during the day, market analysts said.The market staged a rebound, though a modest one, while suffering a net foreign outflow of more than Rs. 900 million.

Amid those developments both indices moved downwards. The All- Share Price Index went down by 53.8 points and S and P SL 20 declined by 23.5 points. Turnover stood at Rs 3.1 billion with five crossings. Those crossings were in Melstacope, where 7.8 million shares crossed to the tune of Rs 670 million and its shares traded at Rs 86, CIC Holdings 353,000 shares crossed for Rs 26.1 million; its shares traded at Rs 74, People’s Insurance 1 million shares crossed for Rs 20 million, its shares sold at Rs 26, NDB 248,000 shares crossed to the tune of Rs 28.8 million; its shares sold at Rs 84 and Three Acre Farm 105,000 shares crossed for Rs 20 million; its shares traded at Rs 190.

In the retail market top five companies that mainly contributed to the turnover were; JKH Rs 268 million (1.4 million shares traded), Lanka IOC Rs 164 million (1.3 million shares traded), TJ Lanka Rs 117 million (3.6 million shares traded), Hayley Rs 109 million (1.2 million shares traded) and Distilleries Rs 103 million (4.1 million shares traded). During the day 75.9 million shares volume s changed hands in 19800 transactions.